Use the Absa FlexiReserve to get extra cash from your home loan

Here’s what you get

Save on interest

Extra payments reduce your outstanding balance, saving you interest over your loan term.

Access available funds

Pay extra into your Home Loan Account and access a portion of your available funds.

Convenience

Access your available funds through a transfer from your Banking App or Absa Online.

What you need to know

FlexiReserve basics
A FlexiReserve is a credit facility that allows you to access a portion of the funds that you’ve already paid in excess of your required repayments (pre-payments) into your Home Loan Account.

We’ll calculate the amount available for you to access.

The available amount in your FlexiReserve will reduce over your Home Loan term, to ensure that your monthly repayments remain affordable if you access the full available amount.

If you miss any monthly repayments, your FlexiReserve will be suspended until all your Home Loan accounts are up to date. We’ll then reinstate it after two months, once your accounts have been brought up to date.

If your financial goal is to save for future withdrawals, a savings account would be a more suitable option to consider. Visit absa.co.za/savingscoach for more information.
How it works
You can pay off your Home Loan quicker if you make extra payments and avoid withdrawing the funds.

The more extra payments you make, the more you’ll save on interest.
Accessing your funds
Digitally transfer your available funds from your Home Loan Account to your Transactional Account.

These transfers are subject to loan repayment plans and account statuses.

There’s a minimum withdrawal of R1 000 per transaction.

Funds can only be transferred to your Transactional Account.

If you use the extra payments you’ve made into your Home Loan Account to reduce its monthly repayment amount, you will not be able to access that extra money once your new repayment amount has been calculated.
Joint Home Loan accounts
This allows all the owners to withdraw and manage the FlexiReserve’s funds.

Cash will only be transferred to the authorised owner’s/owners’ Transactional Account(s).
Terms and conditions
Withdrawals are limited and the funds cannot be used for Home Loan repayments.

If you have less than R1 000 available in your FlexiReserve and less than two months remaining on your Home Loan term, please lodge a request to cancel your mortgage bond and close your Home Loan Account.

Frequently asked questions

What is a FlexiReserve?

A FlexiReserve lets you access a portion of the extra money paid over and above your monthly repayments into your Home Loan. This reduces your Home Loan balance, saves interest and gives you the flexibility to access the available funds if needed.
How do I access the funds?

You can transfer funds from your FlexiReserve to your Absa Transactional Account using your Banking App or Absa Online. If you have a transactional account at another bank, please visit an Absa branch or call 0860 111 007. The minimum transfer amount is R1 000. If you need to pay someone else, transfer the funds to your transactional account first.
Can I use the funds for Home Loan repayments?

No, the available funds in your FlexiReserve cannot be used towards your monthly Home Loan repayments. You must continue paying your monthly repayments to keep your Home Loan Account up to date.
What happens when my Home Loan has been paid off?

If you settle your Home Loan before the end of its term, you can still access any funds in your FlexiReserve if over R1 000 is available and there are more than two months left on your Home Loan term. Otherwise, you’ll need to cancel your mortgage bond to close your Home Loan Account.